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Housing Finance: HFCK a diamond in the rough
Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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My 2 cents wrote:obiero wrote:[quote=obiero]KES 5 remains the next stop. The burekenge phoenix arises from the ashes A five star performance https://twitter.com/hfc_...W3o8AvoLcEG1jw&s=19[/quote] No they are not. Go through the financial statements with a magnifying glass. Do you see the understated depreciation and loan loss provisions? Without those, HFCK would still be in the red. And even with this fiddling of numbers, those are NOT impressive results. Yet the directors have given themselves a 29% hike! Yikes!!! So land depreciates? What are the main collaterals on HF lending? If you enhance recovery, you maintain the same provisions? Teach me please
KQ ABP 4.26
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Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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obiero wrote:My 2 cents wrote:obiero wrote:[quote=obiero]KES 5 remains the next stop. The burekenge phoenix arises from the ashes A five star performance https://twitter.com/hfc_...W3o8AvoLcEG1jw&s=19[/quote] No they are not. Go through the financial statements with a magnifying glass. Do you see the understated depreciation and loan loss provisions? Without those, HFCK would still be in the red. And even with this fiddling of numbers, those are NOT impressive results. Yet the directors have given themselves a 29% hike! Yikes!!! So land depreciates? What are the main collaterals on HF lending? If you enhance recovery, you maintain the same provisions? Teach me please Who said that is depreciation on land? It is not. It is probably buildings etc. They did not maintain it at the same level, they dropped it by close to 100M Their provisioning for bad loans is also NOT reflective of their bad loans book. Provisions dropped by also another close to 100M. You have to get in the weeds of financial statements rather than rely on HFCK's performative twitter releases.
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Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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So I did a quick check on their 2021 depreciation base, they DO NOT depreciate the little land they have in the books. 62 Million worth.
(Mark you collateral held belongs to customers NOT HFCK. When loan defaults occur, collateral is auctioned to recover against loan balances)
The depreciation is on Buildings, Furniture, Fixtures, Equipment and Motor Vehicles.
Obiero, if you are a supporter/investor of a company - you have to be willing to trudge through their numbers in detail. Start from the core of the onion. The financial statements are at the core.
Twitter statements are on the outside of the onion.
To analyze substantively, start inside out. Not outside in.
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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My 2 cents wrote:So I did a quick check on their 2021 depreciation base, they DO NOT depreciate the little land they have in the books. 62 Million worth.
(Mark you collateral held belongs to customers NOT HFCK. When loan defaults occur, collateral is auctioned to recover against loan balances)
The depreciation is on Buildings, Furniture, Fixtures, Equipment and Motor Vehicles.
Obiero, if you are a supporter/investor of a company - you have to be willing to trudge through their numbers in detail. Start from the core of the onion. The financial statements are at the core.
Twitter statements are on the outside of the onion.
To analyze substantively, start inside out. Not outside in.
The market does not agree with you.. Check current price. KES 5.0 likely to print by end of week. Remember that the share started this year at KES 3.16. Onions or none, before end of year, HFC will be at KES 12 per share minimum!
KQ ABP 4.26
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Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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obiero wrote:My 2 cents wrote:So I did a quick check on their 2021 depreciation base, they DO NOT depreciate the little land they have in the books. 62 Million worth.
(Mark you collateral held belongs to customers NOT HFCK. When loan defaults occur, collateral is auctioned to recover against loan balances)
The depreciation is on Buildings, Furniture, Fixtures, Equipment and Motor Vehicles.
Obiero, if you are a supporter/investor of a company - you have to be willing to trudge through their numbers in detail. Start from the core of the onion. The financial statements are at the core.
Twitter statements are on the outside of the onion.
To analyze substantively, start inside out. Not outside in.
The market does not agree with you.. Check current price. KES 5.0 likely to print by end of week. Remember that the share started this year at KES 3.16. Onions or none, before end of year, HFC will be at KES 12 per share minimum! Market can be manipulated. Especially on shallow liquidity. Look at the numbers of HFCK shares transacted. Very low, no depth. Today if I put in an order to buy 1000 shares of HFCK at 6 bob, I will move the market higher :) . And all it costs me is 6k Remember Britam is looking to offload all their shares. If it was all kosher, wouldn't Britam hold? What does Britam know that you dont?
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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My 2 cents wrote:obiero wrote:My 2 cents wrote:So I did a quick check on their 2021 depreciation base, they DO NOT depreciate the little land they have in the books. 62 Million worth.
(Mark you collateral held belongs to customers NOT HFCK. When loan defaults occur, collateral is auctioned to recover against loan balances)
The depreciation is on Buildings, Furniture, Fixtures, Equipment and Motor Vehicles.
Obiero, if you are a supporter/investor of a company - you have to be willing to trudge through their numbers in detail. Start from the core of the onion. The financial statements are at the core.
Twitter statements are on the outside of the onion.
To analyze substantively, start inside out. Not outside in.
The market does not agree with you.. Check current price. KES 5.0 likely to print by end of week. Remember that the share started this year at KES 3.16. Onions or none, before end of year, HFC will be at KES 12 per share minimum! Market can be manipulated. Especially on shallow liquidity. Look at the numbers of HFCK shares transacted. Very low, no depth. Today if I put in an order to buy 1000 shares of HFCK at 6 bob, I will move the market higher :) . And all it costs me is 6k Remember Britam is looking to offload all their shares. If it was all kosher, wouldn't Britam hold? What does Britam know that you dont? Check 30 day volume patterns. This is the 14th most traded stock at the NSE and 4th best in year to date capital gain.. You can continue watching from the sidelines. Hii kitu si ya kulazimishana 😆
KQ ABP 4.26
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Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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obiero wrote:My 2 cents wrote:obiero wrote:My 2 cents wrote:So I did a quick check on their 2021 depreciation base, they DO NOT depreciate the little land they have in the books. 62 Million worth.
(Mark you collateral held belongs to customers NOT HFCK. When loan defaults occur, collateral is auctioned to recover against loan balances)
The depreciation is on Buildings, Furniture, Fixtures, Equipment and Motor Vehicles.
Obiero, if you are a supporter/investor of a company - you have to be willing to trudge through their numbers in detail. Start from the core of the onion. The financial statements are at the core.
Twitter statements are on the outside of the onion.
To analyze substantively, start inside out. Not outside in.
The market does not agree with you.. Check current price. KES 5.0 likely to print by end of week. Remember that the share started this year at KES 3.16. Onions or none, before end of year, HFC will be at KES 12 per share minimum! Market can be manipulated. Especially on shallow liquidity. Look at the numbers of HFCK shares transacted. Very low, no depth. Today if I put in an order to buy 1000 shares of HFCK at 6 bob, I will move the market higher :) . And all it costs me is 6k Remember Britam is looking to offload all their shares. If it was all kosher, wouldn't Britam hold? What does Britam know that you dont? Check 30 day volume patterns. This is the 14th most traded stock at the NSE and 4th best in year to date capital gain.. You can continue watching from the sidelines. Hii kitu si ya kulazimishana 😆 I don't buy KQ, HFCK type stocks. I buy QUALITY stocks. If a company does not make money, in the billions, I am not interested. 
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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My 2 cents wrote:obiero wrote:My 2 cents wrote:obiero wrote:My 2 cents wrote:So I did a quick check on their 2021 depreciation base, they DO NOT depreciate the little land they have in the books. 62 Million worth.
(Mark you collateral held belongs to customers NOT HFCK. When loan defaults occur, collateral is auctioned to recover against loan balances)
The depreciation is on Buildings, Furniture, Fixtures, Equipment and Motor Vehicles.
Obiero, if you are a supporter/investor of a company - you have to be willing to trudge through their numbers in detail. Start from the core of the onion. The financial statements are at the core.
Twitter statements are on the outside of the onion.
To analyze substantively, start inside out. Not outside in.
The market does not agree with you.. Check current price. KES 5.0 likely to print by end of week. Remember that the share started this year at KES 3.16. Onions or none, before end of year, HFC will be at KES 12 per share minimum! Market can be manipulated. Especially on shallow liquidity. Look at the numbers of HFCK shares transacted. Very low, no depth. Today if I put in an order to buy 1000 shares of HFCK at 6 bob, I will move the market higher :) . And all it costs me is 6k Remember Britam is looking to offload all their shares. If it was all kosher, wouldn't Britam hold? What does Britam know that you dont? Check 30 day volume patterns. This is the 14th most traded stock at the NSE and 4th best in year to date capital gain.. You can continue watching from the sidelines. Hii kitu si ya kulazimishana 😆 I don't buy KQ, HFCK type stocks. I buy QUALITY stocks. If a company does not make money, in the billions, I am not interested. To each his/her own. There are many ways to skin a cat. I speak in code.
KQ ABP 4.26
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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Women lie, men lie, numbers don't lie https://afx.kwayisi.org/nse/hfck.html
The current share price of HF Group Limited (HFCK) is KES 3.95. HFCK closed its last trading day (Monday, April 3, 2023) at 3.95 KES per share on the Nairobi Securities Exchange (NSE), recording a 3.7% gain over its previous closing price of 3.81 KES. HF began the year with a share price of 3.19 KES and has since gained 23.8% on that price valuation, ranking it third on the NSE in terms of year-to-date performance. Shareholders can be optimistic about HFCK knowing the stock has accrued 20% over the past four-week period alone—third best on NSE.
KQ ABP 4.26
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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Women lie, men lie, numbers don't lie https://afx.kwayisi.org/nse/hfck.html
KQ ABP 4.26
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Housing Finance: HFCK a diamond in the rough
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